Markets in Toronto advanced to their highest in nearly two months on Friday as investors welcomed moves by the Bank of Canada and the European Central Bank earlier this week.
The S&P/TSX composite index improved 66.60 points to greet noon at 14,830.58
The Canadian dollar lost 0.11 cents to 80.64 cents U.S.
The benchmark TSX extended gains after jumping during the previous two sessions. It is on track to record a sharp rise this week.
Financials climbed as Royal Bank of Canada gained 1.3% to $75.66, and Bank of Nova Scotia added 1.1% to $64.46.
Shares of energy producers rose, reflecting higher oil prices. Canadian Natural Resources advanced 1.6% to $36.80, and Suncor Energy strengthened 1.2% to $37.51.
The gold-mining sector gave back some of its strength, as Barrick Gold Corp lost 2% to $15.56.
Concerned with things economic, Statistics Canada told us this morning that retail sales added 0.4% in November to $43 billion, with cold weather one of the main culprits. Promotional events also contributed to higher sales. Gains were reported in five of 11 sub-sectors, representing 27% of retail trade.
The agency also said its consumer price index rose 1.5% in the 12 months to December, after a 2.0% increase in November. On a seasonally adjusted monthly basis, inflation declined 0.1% in December, after falling 0.2% in November.
ON BAYSTREET
The TSX Venture Exchange shed 2.53 points to 676.44.
Eight of the 14 Toronto subgroups were lower midday, weighed mostly by metals and mining, down 3.6%, global base metals, off 2.2%, and materials, skidding 2.1%.
The half-dozen gainers were led north by energy, surging 2.2%, financials, better by 1.3%, and utilities, up 1%.
ON WALLSTREET
U.S. stocks mainly fell on Friday, with the S&P 500 halting a four-session winning run, as investors considered economic data and energy costs.
The Dow Jones Industrials eased 54.14 points to 17,759.84, with Johnson & Johnson leading blue-chip losses that extended to 22 of 30 components.
The S&P 500 dipped 4.68 points to 2,058.47, with materials and telecom hardest hit and utilities and energy faring best of its 10 major sectors.
The NASDAQ index added 6.92 points to 4,757.32
Enterprise-cloud supplier Box jumped in its first day as a publicly traded company.
McDonald's declined after the fast-food chain reported a 7.3% decline in quarterly sales;
Honeywell International gained after the industrial conglomerate tallied quarterly profit that exceeded expectations, and United Parcel Service dropped after the shipper warned fourth-quarter profits would come in below expectations.
Friday's economic reports had had existing-homes sales rising 2.4% to an annual rate of 5.04 million in December.
Prices for 10-year U.S. Treasuries were sharply higher, weighing down yields to 1.82% from Friday’s 1.90%. Treasury prices and yields move in opposite directions.
Oil prices dropped six cents per barrel to $46.25 U.S.
Gold prices dropped $11.10 an ounce to $1,289.60 U.S.
